SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 28, 2017

A summary of rent expense follows:



(in thousands)	2016			2015			2014
Store rent:
Fixed minimum⁽¹⁾	$	408,575		$	404,836		$	432,794
Contingent	11,690			10,161			8,886
Deferred lease credits amortization	(24,557		)	(28,619		)	(38,437		)
Total store rent expense	395,708			386,378			403,243
Buildings, equipment and other	5,772			3,849			4,619
Total rent expense	$	401,480		$	390,227		$	407,862

⁽¹⁾Includes lease termination fees of $15.5 million, $3.3 million and $12.4 million for Fiscal 2016, Fiscal 2015 and Fiscal 2014, respectively. Fiscal 2015 includes a benefit of $1.6 million related to better than expected lease exit terms associated with the closure of the Gilly Hicks stand-alone stores. Fiscal 2014 includes lease termination fees of $6.8 million related to the Gilly Hicks restructuring.

Schedule of Operating Lease Commitments Under Non-Cancelable Leases

A summary of operating lease commitments, including leasehold financing obligations, under non-cancelable leases follows:



(in thousands)
Fiscal 2017	$	350,503
Fiscal 2018	$	289,742
Fiscal 2019	$	221,797
Fiscal 2020	$	178,719
Fiscal 2021	$	139,477
Thereafter	$	369,709

Schedule of Weighted Average Number of Shares

The following table presents weighted-average shares outstanding and anti-dilutive shares:



(in thousands)	2016		2015		2014
Shares of common stock issued	103,300		103,300		103,300
Weighted-average treasury shares	(35,422	)	(34,420	)	(31,515	)
Weighted-average — basic shares	67,878		68,880		71,785
Dilutive effect of share-based compensation awards	406		537		1,152
Weighted-average — diluted shares	68,284		69,417		72,937
Anti-dilutive shares ⁽¹⁾	6,107		8,967		6,144


⁽¹⁾	Reflects the total number of shares related to outstanding share-based compensation awards that have been excluded from the computation of net income per diluted share because the impact would have been anti-dilutive.

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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